Glove investment losing steam

But, with Covid-19 vaccinations having come onstream, the excitement has since cooled down and investors have shifted their attention to stocks, deemed as recovery proxies such as banking and retail shares. That said, observers say it is not entirely “game over” for gloves.

PETALING JAYA: Unlike previously, the market hardly batted an eyelid after news of a new glove venture hit the market, suggesting that investors have indeed shifted their focus elsewhere amid the ongoing Covid-19 pandemic.

Pegasus Heights Bhd, a loss-making company involved in property, trading and the food and beverage business, said last week that it was exploring a potential joint venture with glove maker WRP Asia Pacific Sdn Bhd.